Japan Proposes $65 Billion Plan, ¥2 Trillion for AI, to Boost Chip Industry

Nov 11, 2024, 12:00 PM

Japan is set to unveil a comprehensive economic package that includes a significant investment in its domestic semiconductor industry. The government plans to propose a $65 billion initiative, which equates to about ¥2 trillion, aimed at bolstering the local chip sector. This package will also promote investments in artificial intelligence, with ¥2 trillion specifically allocated for AI development. The draft, seen by Reuters, outlines a call for a total of 50 trillion yen in public and private investment in the chip sector over the next decade.